Apple might have $145 Billion in cash, but tax laws are forcing it to borrow money

Apple has huge amounts of cash, but they can't get at the money without paying a large tax penalty.  So the tax law is forcing Apple to borrow a large amount of money that it shouldn't have to borrow.  From Buzzfeed:
The most interesting part of Apple's earnings report wasn't its $43.6 billion in revenue or $9.5 billion in net profit. Nor was it the 37.4 million iPhones and 19.5 million iPads sold over the last three months. It was the fact that, despite having just under $145 billion in cash and short-term marketable securities on its balance sheet, the company plans to borrow money by issuing debt for the first time in its history. 
Apple did not specify how much it planned to borrow, saying only that it "expects to announce more details about this in the near future." Sure, the company needs to find money to fund the extra $50 billion it plans to spend on share buybacks by 2015, which at a total of $60 billion makes it the largest single share repurchase program in corporate history. It also needs more money for its 15% dividend increase to $3.05 per share. . . . 
"Seventy percent of Apple's cash is overseas and would be taxed if they brought it home to buyback stock," said BTIG analyst Walter Piecyk. . . .



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